Exposure to Icelandic Banks
Dear Sir or Madam,
Does Weymouth & Portland Borough Council have any money deposited with any Icelandic banks? If so how much?
Does W&PBC have any monies deposited in Banks that are UK based? If so how much and with which UK organisations?
Does W&PBC spread the risk of a single bank collapse by using various banks?
Yours faithfully,
Jake Brown
Dear Mr Brown,
Thank you for your request received yesterday in relation to the above.
I have spoken with our finance team and they have confirmed that we have
no money deposited in any Icelandic Bank. With regard to question 3, we
do spread the risk of our investments to avoid the issue of a bank
collapsing. Lastly, we publish the details of our investments on a
monthly basis as part of our budget monitoring process and if you were to
search our site you would find the documents. As a public authority, we
have a Publication Scheme that contains the details of what information we
routinely publish. In the future, please search the Scheme for the
desired information and, if you are unable to find the information you
want, then you can make a request in writing to the authority. In this
particular request the latest investment information is contained in
Appendix 5 of the Revenue & Capital Budget Monitoring to end of August
2008. The link below will take you directly to the appendix:
[1]http://www.weymouth.gov.uk/docstore/demd...
I hope this is of use to you and if there is any other information you
require, please do contact us.
David Sinclair
Records Manager
Weymouth & Portland Borough Council, Council Offices, North Quay, Weymouth
DT4 8TA
Telephone 01305 838619
Weymouth & Portland - Sailing Venue
2012 London Olympic Games & Paralympic Games
References
Visible links
1. http://www.weymouth.gov.uk/docstore/demd...
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